On the surface, the rate dropped to 8.1% but it dropped for all of the wrong reasons.
First, 386,000 have dropped out. In other words, they are not officially looking for work. They've given up!
Second, the US economy created 96,000 jobs. How can a US$ 14 trillion economy create only 96,000 jobs? Perhaps someone in the media will ask Pres BO that question!
Third, labor participation for men is the lowest since 1948.
We hear that Pres BO was aware of these "jobs" numbers last night. Do you understand now why the speech was so lifeless or why the Dems are doubling down on liberalism? At this point, the Dem strategy is simple: Get the base out because that's all we got!
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